Strategic Value Partners (SVP), a global alternative investment firm with $19bn AUM, will provide €200m in preferred equity to support Bjelin Group’s long-term growth objectives.
According to a recent release, this will enable Bjelin Group to finance the acquisition of, and support further investments in, sustainable flooring technology Woodura and veneer production, to create a leading global company.
The acquisition is expected to be finalised by the first quarter of 2025, subject to customary closing conditions and regulatory approval.
Bjelin Group is fully owned by the Pervan family and holds a 51% stake in Välinge Group and a 100% stake in Bjelin Industries. The remaining 49% of Välinge Group is owned by KIRKBI Invest A/S and Välinge Group management. Bjelin Group AB will acquire all shares in Välinge’s industrial business, which will be integrated into Bjelin Industries.
Välinge Group operates in two key areas: a licensing business for flooring and furniture applications, and an industrial business focused on large-scale production of flooring with Woodura surface technology and furniture in Sweden and Croatia. Bjelin Industries specialises in veneer, flooring, and furniture manufacturing, with production facilities in Croatia.
The Pervan family will retain a 97% ownership stake in Bjelin Group.
Välinge Innovation AB plans to pursue a public listing at an appropriate time, as the high growth potential of Woodura flooring is expected to increase Välinge’s licensing revenues.
Citi and Nordea acted as joint placement agents, while SVP was advised by Kirkland & Ellis, Schjødt, and Wolf Theiss as legal counsel. Bjelin Group received legal counsel from Mannheimer Swartling.
